Smithson investment trust, the new global small- and mid-cap trust run by Terry Smith's Fundsmith, has smashed initial fundraising targets and looks set for the largest ever UK-listed trust launch after Neil Woodford's Patient Capital trust in 2015.
The board of Smithson initially targeted £250m for the new trust, but the figure was then raised to £600m following strong investor demand. However, this level has also now been exceeded and the board...
Acquisition completed earlier this month.
Changes to take place by next year
Launched 18 November
Investment Association to create new labels